Product ID: SQMIG45N2020
Report ID:
SQMIG45N2020 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
95 |
Figures:
76
Current Sensor Market Drivers
An increase in the use of battery-powered technologies and an increased emphasis on renewable energy.
Increasing Relevance of Industrial Robots and the Need for Hall Effect Technology
Current Sensor Market Restraints
Decrease in Average Selling Prices to Create Intense Pricing Pressure
Even though the number of current sensors being used in automated vehicles, telecommunications equipment, consumer electronics, and healthcare devices has expanded, price erosion has severely slowed sales growth. Part of this can be attributed to the intense competition among the increasing number of sensor manufacturers. Although lower ASPs are good for consumers, they have a negative impact on suppliers' profit margins. The average selling price (ASP) decreases as a result of the intense pricing pressure, which restricts revenue growth in the fiercely competitive modern sensor market.
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REQUEST FREE CUSTOMIZATIONCurrent Sensor Market size was valued at USD 2.3 billion in 2019 and is poised to grow from USD 2.55 billion in 2023 to USD 5.79 billion by 2031, growing at a CAGR of 10.8% in the forecast period (2024-2031).
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Product ID: SQMIG45N2020